How much funds were allocated for senior citizens and persons with disabilities in Union
Budget 2020?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹9,500 Cr.
- Union finance minister Nirmala Sitharaman announced an allocation of 9500 crore for the welfare of senior citizens and persons with disabilities.
-
Divyang is a term that means a person with a divine body and was suggested by Prime Minister Narendra Modi for describing people with disabilities.
-
Currently, income up to ₹2.5 lakh for resident individuals (aged below 60 years) is exempt from tax. Similarly, for senior citizens aged 60 years and above but below 80 years, income up to ₹3 lakh is exempt from tax.
-
For senior citizens (aged 60 years or above but less than 80 years), income up to ₹3 lakh is exempt from tax.